If you would invest 0.00 in Alcoa on January 23, 2019 and sell it all today you would earn a total of 0.00 from holding Alcoa Corporation or generate 0.0% return on investment in Alcoa over 60 days. Alcoa is related to or competes with Aluminum, Kaiser Aluminum, Century Aluminum, Constellium, First Majestic, and AngloGold Ashanti. Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Bra...
We consider Alcoa not too volatile. Alcoa secures Sharpe Ratio (or Efficiency) of 0.0057 which signifies that the organization had 0.0057% of return per unit of standard deviation over the last 2 months. Our philosophy in foreseeing volatility of a stock is to use all available market data together with stock specific technical indicators that cannot be diversified away. We have found twenty-one technical indicators for Alcoa Corporation which you can use to evaluate future volatility of the firm. Please confirm Alcoa Risk Adjusted Performance of (0.009823) and Mean Deviation of 2.04 to double-check if risk estimate we provide are consistent with the epected return of 0.0138%. The firm shows Beta (market volatility) of 2.2215 which signifies that as market goes up, the company is expected to significantly outperform it. However, if the market returns are negative, Alcoa will likely underperform. Although it is extremely important to respect Alcoa historical returns, it is better to be realistic regarding the information on equity current trending patterns. The philosophy in foreseeing future performance of any stock is to evaluate the business as a whole together with its past performance including all available fundamental and technical indicators. By analyzing Alcoatechnical indicators you can presently evaluate if the expected return of 0.0138% will be sustainable into the future. Alcoa right now shows a risk of 2.4137%. Please confirm Alcoa Mean Deviation, Standard Deviation, Treynor Ratio, as well as the relationship between Downside Deviation and Information Ratio to decide if Alcoa will be following its price patterns.
Alcoa Corporation has very weak reverse predictability. Overlapping area represents the amount of predictability between Alcoa time series from January 23, 2019 to February 22, 2019 and February 22, 2019 to March 24, 2019. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Alcoa price movement. The serial correlation of -0.08 indicates that barely 8.0% of current Alcoa price fluctuation can be explain by its past prices. Given that Alcoa Corporation has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Alcoa for similar time interval.
Spearman Rank Test
Alcoa lagged returns against current returns
Current and Lagged Values
Alcoa regressed lagged prices vs. current prices
Current vs Lagged Prices
Alcoa Lagged Returns
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Correlation analysis and pair trading evaluation for Alcoa and Aluminum Of China. Pair trading can be used as a hedging technique within a particular sector or industry or even over random equities to generate better risk-adjusted return